Costco March Net Sales, Comps Rise

(RTTNews) - Membership warehouses operator Costco Wholesale Corp. (COST) reported Thursday higher net sales and comparable sales for the month of March, boosted by good performance in both U.S. and international regions.

Comparable sales for the month increased 5 percent, with a 6 percent increase in the U.S., and 4 percent rise in the International segment. Excluding negative impacts from gasoline price deflation and foreign exchange, comparable sales for the month advanced 7 percent, with a 6 percent increase in U.S. and a 9 percent growth in international region.

Net sales was $10.43 billion for the five weeks ended April 6, an 8 percent increase from $9.67 billion during the similar five-week period last year. The company noted that this year's five-week period included 35 days of sales, compared to 34 last year, reflecting the timing of Easter. This calendar shift positively impacted this year's net and comparable sales by an estimated one to one and one-half percent.

In the preceding month of February, net sales grew 4 percent year-over-year to $7.90 billion, and comparable sales rose 2 percent, comprising a 3 percent growth in the U.S. and a 1 percent drop in the International business. February comparable sales, excluding the negative impacts from gasoline price deflation and foreign exchange, increased 4 percent.

For the thirty-one weeks ended April 6, comparable sales rose 3 percent, with 4 percent rise in the U.S., and 1 percent increase in the International segment. Comparable sales, excluding the negative impacts from gasoline price deflation and foreign exchange, grew 5 percent for the total company, with a 5 percent increase in U.S. and a 7 percent growth in international region.

Costco reported net sales of $64.65 billion for the thirty-one weeks, an increase of 6 percent from $61.02 billion during the similar period last year.

Costco currently operates 650 warehouses, including 462 in the United States and Puerto Rico. The company has stores in Canada, Mexico, United Kingdom, Japan, Taiwan, Korea and Australia. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom and Mexico.

The company plans to release its operating results for the third quarter ending May 11 on May 29.

Costco shares closed Wednesday's trading at $113.05, up $0.39 or 0.35 percent.